Marketing sometimes inadvertently takes a back seat to the excitement of creating a groundbreaking product. Because many of us have limited time and resources to devote to all aspects of product development, marketing efforts can become sporadic or inconsistent, hindering an invention’s potential success.
Many of the patent rules are subtle and cause amateurs (including me) to lose a large chunk of the patent’s strength and value if we prepare a patent on our own.
Is it worth the time? What has worked before? What will have to change? I look into factors such as demand, market size, manufacturability, cost and trends. I also do an extra layer of evaluation.
Evolutionary and revolutionary product development define how companies improve existing products, introduce new products and innovate. Both approaches have their advantages and drawbacks.
This can be a nervy time for the inventor: the real test of whether the device can stand on its own in the marketplace, and whether people want to buy it. Because the launch has such high consequences, you must take the utmost care in preparation to ensure you have everything right.
I have seen inventors with amazing products that never made it to market. The No. 1 reason is that they gave up too soon. Besides a few obvious character traits, these others are consistent in successful inventors.
Grenada innovation workshop was memorable for beautiful innovation, people and scenery. Once the sample projects were completed, teams had the afternoon to use the parts to build their own prototypes and work on their digital prototypes.
As innovative products continue to emerge, what are some of the ways for inventors to reach a wider audience for effectively launching their inventions?
Woman’s inventing experience reveals production, design and expense challenges. After your first year or two, when sales appear to be at their peak, approach manufacturers who have a product line in which your product would fit.
A small, unknown percentage of inventors are entrepreneurial, and a small, unknown percentage of entrepreneurs are inventive. All traits, talents and driving forces of the inventor and entrepreneur are combined. Hence, the Inventrepreneur.
Key factors in a licensing agreement may vary in importance, depending on the inventor and situation. No one can claim definitively what should be the most important factor in a licensing agreement.
Sharing the journey of how an invention came to be, the challenges faced throughout the development process, and triumphs achieved create a powerful connection with listeners.